The credit union would like to introduce you to our new Overdraft Protection Courtesy Pay product.
Each member will have overdraft protection on their share draft checking account of $250.00 – $750.00. Direct deposit members can be covered on overdrafts in the share draft checking up to $750.00. Share draft accounts that do not have direct deposit are only covered up to $250.00.
Example: You make a mistake in your checkbook and you become overdrawn $180.00. We will pay that item for a charge of $35.00. The item will not be returned to the person you wrote it to (therefore saving you a return check fee). The item since it was paid also will not have to be reprocessed and cause you a second overdraft fee when it comes back through for payment (since we paid it the first time). No one will know that your draft/check bounced except the credit union and you! No embarrassment! A simple fee of $35 per item is like a small loan interest free for up to 30 days.
You will have up to 30 days to pay the money back (by making a deposit to your share draft account or by a direct deposit). We will send you a letter when the overdraft happens. We will send you another letter about 14 days letter and one at 21 days. You must make the account good / positive within the 30 days. Failure to do so will result in collection/legal action, removal from the program and possible closure of your account.
To verify your coverage amount, please call and speak with a Member Service Representative or stop in to the credit union.
If you do not want to take advantage of this coverage, you will need to Opt Out of the program by signing an Opt Out Form. You can stop in at the credit union or contact the credit union at 412-922-4800 and press 1 for Member Services and a Representative can mail you an Opt Out form.
We are excited to be able to provide this new service to you all. Mistakes happen and we want to be there to help you through.